Report: FIA Sales Tumble 14% In 1Q

May 25, 2017 by Cyril Tuohy

First quarter 2017 sales of fixed indexed annuities (FIAs) dropped 14 percent to $12.9 billion compared with the year-ago period, a widely-followed industry data tracker reported Wednesday.

FIA sales dipped 3 percent compared with the fourth quarter 2016, according to Wink’s Market & Sales Report.

New Department of Labor fiduciary rules have weighed on sales as agents and distributors opt for a wait-and-see approach, according to industry analysts. The fiduciary rules are scheduled to take effect June 9, with full implementation Jan. 1, 2018.

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Originally Posted at InsuranceNewsNet on May 24, 2017 by Cyril Tuohy.